Canadian cybersecurity company BlackBerry Limited (NYSE:BB) has emerged as the most-discussed stock on Reddit’s r/WallStreetBets forum as of early Wednesday.
What Happened: Exchange-traded fund SPDR S&P 500 ETF Trust (NYSE:SPY) is seeing the highest interest on the forum with 580 mentions as at press time, followed by BlackBerry with 197 mentions, data from Quiver Quantitative showed.
Electric vehicle maker Tesla Inc. (NASDAQ:TSLA) and graphics chipmaker Nvidia Corp. (NASDAQ: NVDA) are in the third and fourth positions, having attracted 180 and 121 mentions, respectively.
See Also: How To Buy Blackberry (BB) Stock
Why It Matters: BlackBerry is seeing high interest on the forum after the company reported better-than-expected financial results for the third quarter.
Revenue for the quarter declined to $184 million from $218 million in the prior-year period but beat analysts’ consensus estimate of $177.25 million.
Adjusted earnings were breakeven per share, compared to analysts’ consensus estimate of a loss of $0.07 per share.
Shares of Tesla and Nvidia closed higher on Tuesday.
It was reported that UBS has named chipmaker Nvidia a “top pick.” Analyst Timothy Arcuri believes that Nvidia will likely benefit from building more “stable” revenue sources around its GPU and software moats.
Price Action: BlackBerry shares closed almost 4.2% higher in Tuesday’s regular trading session at $9.25, but declined 2.1% in the after-hours session to $9.06.
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